Worried that a slowdown in China and Europe will drag down Apple? Don’t be.
ISI analyst Brian Marshall tells us that Apple should continue to grow despite the current macro malaise.
“Apple’s quarter is going to be pretty good,” he predicts. Marshall along with many other tech watchers believe that the Apple faithful will spend on Apple’s must-have gadgets, even amid an economic slowdown.
"They continue to penetrate markets with their tablet, smartphone and computers," he says. Interest remains strong.
And Marshall believes the slew of new gadgets coming out later in the year will keep consumers coming back for more.
“I’m not 100% sure their (rumored) new tablet will be a mini iPad. It may be billed as iPod Max but there is a 7.85 inch screen device coming in the back half of this year,” he says.
“Also we expect the iPhone 5 in October and we think the iTV comes out in early 2013.”
All told, Marshall seems to believe the new gadgets will generate a lot of interest from buyers and, as a result, will be powerful upside catalysts.
“We have a $750 price target on the stock,” he says. At the time of writing, that’s a gain of $150 or 25%.
That’s a big move but Marshall doesn’t find the call daunting or unrealistic. “Apple remains one of our top ideas,” he says.
